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On June 17, ST Hanchuan released an announcement revealing that a board meeting was convened on June 16 to deliberate and approve the "Proposal for Reassessment and Temporary Suspension of Specific Fund-Raising Investment Projects." The company has opted to temporarily halt the execution of two fund-raising investment projects: the "Production and Construction Initiative for Intelligent Battery Swap Equipment" and the "Production and Construction Project for Intelligent Equipment of Electrified Automotive Components." This decision involves unutilized raised funds amounting to RMB 676 million. ST Hanchuan clarified that the temporary suspension is a cautious move, prompted by shifts in the market landscape, with the intention of minimizing risks associated with industry downturns and optimizing the efficiency of fund deployment.
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